China stocks ended higher on Friday and posted a weekly rise, as investors cheered a series of solid corporate earnings, though uncertainty over Sino-U.S. trade talks kept a check on gains. ( read original story…
BUSINESS
Alibaba tells Trump we ‘support American brands’
Alibaba has moved to ease tensions with Donald Trump, as the US president continues to threaten Chinese firms. Chief executive Daniel Zhang said the online retailer’s policies “support American brands … ( read original story…
Chinese Insurer Waterdrop Plans US IPO After $230M Fundraise
In a bid to grow its health insurance division and go public in the United States, Waterdrop Inc., a Hong Kong-based insurer, has raised $230 million. ( read original story …)
Forbes China To Host 2nd U.S.-China Business Forum Next Week
The online event is in English and organized by Forbes China, the Chinese-language edition of Forbes. Participants include (in alphabetical order): * Craig Allen, President, U.S.-China Business … ( read original story …)
Crypto Assets of $50 Billion Moved From China in the Past Year
About $50 billion in cryptocurrency assets have left China in the past year, a possible indication that investors are dodging rules that limit how much capital they’re allowed to transfer from the … ( read…
Chinese Crowdfunding, Insurance Site Waterdrop Raises $230 Million, Plans U.S. IPO
Chinese online insurance technology platform Waterdrop Inc. has raised $230 million in a new funding round led by reinsurer Swiss Re and Chinese internet … ( read original story …)
China’s Alibaba Says Business Is Back to Normal, Quarterly Profits Hit $5.6 Billion
Alibaba, Chinese e-commerce and entertainment giant, says that the worst of the economic fallout from the coronavirus is now behind it. Indeed, the health and economic crisis is accelerating digital … ( read original story…
Bank of East Asia interim profit jumps on efforts to contain bad loans from ill-fated strategy in mainland China business
The Bank of East Asia (BEA) said efforts to arrest a surge in bad loans in its mainland China business are paying off, as earnings improved from its worst year in a decade despite pressure…
China’s Waterdrop nabs $230M for its crowdfunded, mutual aid insurance platform
When people in the US or Europe think of crowdfunding and medical expenses, sites like GoFundMe, where people fundraise around specific predicaments, come to mind. Waterdrop, which goes by Shuidihuzhu … ( read original story…
China’s Alibaba Beats Quarterly Revenue, Profit Estimates
China’s Alibaba Group Holding Ltd beat quarterly revenue and profit estimates on Thursday as its core commerce and cloud computing businesses benefited from a shift to online shopping and working from … ( read original…
China Blockchain Technology Market 2020-2023 / Growth, Emerging Trends, And Forecast
China is leading global blockchain patent applications. Digitally-minded opportunists are the breakthrough of blockchain in China. The local governments of China are looking forward to working with … ( read original story …)
Data Sheet on Global Blockchain Technology Market 2020-2023 / Industry Growth, Current Trends and Forecast
Increasing applications in sectors like Banking and Financial Services, Healthcare, Supply Chain Management, Energy, … ( read original story …)
Chinese insurance tech firm Waterdrop raises $230 million, plans U.S. IPO
The sources could not be named due to confidentiality constraints. Founded in 2016, Beijing-headquartered Waterdrop distributes insurance policies online via Waterdrop Insurance Mall, provides … ( read original story …)